Getting a merchant account can be very confusing if you don’t do your homework before you apply. There are lots of rates and fees you should be aware of because some of them are unnecessary and should be avoided. You want to try to get the best deal for your business before you decide what you will accept. Compare lots of different options, know which rates and fees will apply for your business specifically, and consider what the account will cost you each year or what it will cost you should you decide to cancel your account.

Before you decide to jump into a partnership with others, think about a few things:

• Investigate whether other partnerships you know of have been successful.
• Do your homework. Find out about your own strengths and weaknesses. Check whether your personal  skills and resources are adequate or whether you'll need outside expertise. In other words, do your homework.
• Be careful of associates and relatives. Your partners should be selected based on the criteria such as; their reputation, financial stability and expertise.
  

It is common sense to try and save money by doing the job yourself if you are a business owner.  This "do it yourself" approach is fine as long as you know what you are doing.